ISSN 1940-204X COORS BALANCED SCORECARD: A DECADE OF EXPERIENCE Hugh Grove University of Denver Tom Cook University of Denver Ken Richter Coors Brewing Company IntroductIon By the end of 1997, Coors had finished the implementation of a three-year Computer Integrated Logistics (CIL) project to improve its supply chain management. Coors defined its supply chain as every activity involved in moving production from the supplier’s supplier to the customer’s customer. (Since by Federal law, Coors
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Balanced Scorecard 101 A Brief Overview of the BSC Methodology Steve Logan Department of Energy 202 287-1383 Steve.Logan@hq.doe.gov Presentation to the BSIG October 2004 2 “One accurate measurement is worth more than a thousand expert opinions.” - Admiral Grace Hopper, USN 3 What is a Balanced Scorecard? Definition of BSC as a strategic management system Steps in a strategic management system: 1. Clarify and translate vision and strategy 2. Communicate and link strategic
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to get accurate information about what actually is the greatest good for the greatest amount of people. The initiation of the balanced scorecard allows for an effective review of the functioning of healthcare facilities. This opened up a more sound discussion of facility review in education forums. In the following the effectiveness and benefits of balance scorecards and the education forums communication modality will be discussed. The health industry has a grave responsibility in caring for the
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vagueness of previous management approaches, the balanced scorecard approach provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective. Traditional performance measurement, focusing on external accounting data, is obsolete - and something more is needed to provide the information age enterprises with efficient planning tools. Among the long row of benefits of applying Balanced Scorecard, theese are the most significant: Strategic initiatives
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criticized on the grounds that their practices had changed little over the preceding 60 years, despite radical changes in the business environment. The last decade’s new managerial accounting practices such as activity-based-costing, the balanced scorecard and bottleneck accounting were developed. Unlike traditional managerial accounting, activity-based-costing
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Performance Management and the Balanced Scorecard Introduction Most successful businesses employ some sort of performance management system as a means to measure the effectiveness of their human capital and business processes. There are many different types of performance management systems in use, and some are more effective at producing actionable results than others. Those systems that can utilize key business indicators together with a motivated, engaged workforce focused on constant improvement
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Synergy When an organization aligns the activities of its various business and support units, it creates additional sources of value in various ways. Corporate financial synergy revolves around issues such as where to invest, where to harvest, how to balance risk and how to create an investor brand. Customer synergy means enhancing customer relationships by offering a range of complementary products and services from different business units. Internal process synergies can be created by generating economies
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1. Performance Measurement Performance measurement is a way of evaluating employees and organisations progress, by collecting information of a specific time period and measure them, tell us how the business has been profitable. Performance Measure Tells us how the different performance on all levels of an organisation has been, such as financial and nonfinancial measures. By knowing them we can make changes to the organization so it becomes more profitable. 2. Basic types of Performance
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Traditional performance measures slowly become insufficient tool in describing sophisticated and growing complexity among contemporary business organizations. They mainly concentrate on financial performance aspects such as: sales results, overhead absorption rate, return on investment, earnings per share and many other profitability ratios. Therefore management accounting evolved beyond these framework, as a solely profit measurement method, by including non-financial factors in the performance
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Guidelines in corporate management The Balanced Scorecard – Translating Strategy into Action Introduction Public transport organizations face many barriers when trying to execute the strategy formed by their corporate managements. Some of these common barriers include: • The vision barrier, which arises when most managers and employees do not really understand the organization’s strategy. The people barrier, which arises when only a small portion of managers have some incentives regarding
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